Tariffs as the primary revenue source in early U.S. history
Enrique Martínez García, Michael Sposi
Federal Reserve Bank of Dallas, August 2025
The above chart is sourced from the working paper "A History of U.S. Tariffs: Quantifying Strategic Trade-Offs in Tariff Policy Design", by Enrique Martínez García and Michael Sposi, Federal Reserve Bank of Dallas, August 2025